Canaccord Genuity reaffirmed their buy rating on shares of Nektar Therapeutics (NASDAQ:NKTR) in a research report released on Wednesday, January 10th, The Fly reports. They currently have a $80.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $50.00.
A number of other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Nektar Therapeutics from a hold rating to a sell rating in a research report on Tuesday, January 9th. Mizuho reiterated a buy rating and issued a $45.00 price objective (up previously from $30.00) on shares of Nektar Therapeutics in a report on Wednesday, November 8th. Cowen started coverage on shares of Nektar Therapeutics in a report on Tuesday, November 7th. They issued an outperform rating on the stock. Canaccord Genuity Group boosted their price objective on shares of Nektar Therapeutics from $35.00 to $50.00 and gave the stock a buy rating in a report on Wednesday, November 15th. Finally, Jefferies Group restated a buy rating and issued a $35.00 target price on shares of Nektar Therapeutics in a research note on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Nektar Therapeutics presently has a consensus rating of Buy and an average target price of $42.50.
Nektar Therapeutics (NKTR) traded down $2.26 during mid-day trading on Wednesday, reaching $69.74. 3,684,000 shares of the company’s stock traded hands, compared to its average volume of 2,813,810. The stock has a market cap of $10,990.00, a PE ratio of -98.23 and a beta of 1.81. The company has a debt-to-equity ratio of 2.91, a current ratio of 4.14 and a quick ratio of 3.99. Nektar Therapeutics has a 12-month low of $11.41 and a 12-month high of $75.33.
In other Nektar Therapeutics news, Director Christopher A. Kuebler sold 30,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $58.66, for a total value of $1,759,800.00. Following the completion of the sale, the director now owns 70,500 shares in the company, valued at approximately $4,135,530. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Stephen K. Doberstein sold 396,323 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $29.00, for a total transaction of $11,493,367.00. Following the transaction, the senior vice president now owns 52,016 shares in the company, valued at approximately $1,508,464. The disclosure for this sale can be found here. Insiders sold 614,017 shares of company stock valued at $20,587,527 over the last quarter. Insiders own 5.44% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. bought a new stake in Nektar Therapeutics in the 3rd quarter valued at $129,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Nektar Therapeutics by 14.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,603 shares of the biopharmaceutical company’s stock worth $110,000 after acquiring an additional 692 shares during the period. Mark Sheptoff Financial Planning LLC lifted its holdings in shares of Nektar Therapeutics by 79.4% during the 3rd quarter. Mark Sheptoff Financial Planning LLC now owns 6,100 shares of the biopharmaceutical company’s stock worth $146,000 after acquiring an additional 2,700 shares during the period. Flinton Capital Management LLC lifted its holdings in shares of Nektar Therapeutics by 75.7% during the 2nd quarter. Flinton Capital Management LLC now owns 7,872 shares of the biopharmaceutical company’s stock worth $154,000 after acquiring an additional 3,392 shares during the period. Finally, Riverhead Capital Management LLC lifted its holdings in Nektar Therapeutics by 78.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,754 shares of the biopharmaceutical company’s stock valued at $171,000 after purchasing an additional 3,854 shares during the last quarter. Institutional investors and hedge funds own 96.01% of the company’s stock.
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About Nektar Therapeutics
Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.
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